Air France-KLM has announced its intention to become the majority shareholder in Scandinavian airline SAS, aiming to increase its current 19.9% stake to 60.5%.
This strategic move marks a new era for SAS and signals significant consolidation within the European aviation sector. The deal will see Air France-KLM fully acquire the shares held by Castlelake and Lind Invest. The Danish state will keep its 26.4% stake in SAS and its seats on the Board of Directors.
Anko van der Werff, President and CEO of SAS, stated, “Air France-KLM becoming the majority owner will be a decisive moment for SAS and a strong signal of confidence in the direction we are heading.” He added that this move will bring stability and, following regulatory approval, provide the full support of one of the world’s leading airline groups. Van der Werff emphasized that this merger will better position them to deliver greater value to customers, employees, and the region.
Benjamin Smith, CEO of Air France-KLM, expressed excitement about “fully integrating SAS into the Air France-KLM family.” He noted that SAS has demonstrated impressive performance following its successful restructuring and expressed confidence that the airline’s potential will continue to grow through deeper integration within the Air France-KLM Group. Smith stated that this operation will benefit customers and all Scandinavians through enhanced connectivity, as well as the SAS teams who have been key in bringing the airline back to its rightful place.
The transaction is expected to be completed in the second half of 2026, subject to receiving all necessary regulatory approvals and fulfilling all preconditions.
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This post was published on 5 July 2025 3:02 pm